Analysts Set CubeSmart (NYSE:CUBE) PT at $47.00

CubeSmart (NYSE:CUBE) has received a consensus recommendation of “Hold” from the fourteen ratings firms that are currently covering the stock, Marketbeat.com reports. Nine research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $46.93.

CUBE has been the topic of several analyst reports. Royal Bank of Canada dropped their price objective on CubeSmart from $53.00 to $48.00 and set an “outperform” rating on the stock in a report on Monday, March 3rd. KeyCorp upgraded CubeSmart from a “sector weight” rating to an “overweight” rating and set a $47.00 price objective on the stock in a report on Thursday, March 6th. Bank of America upgraded CubeSmart from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $44.00 to $50.00 in a report on Tuesday, May 13th. Evercore ISI lifted their target price on CubeSmart from $44.00 to $47.00 and gave the stock an “in-line” rating in a research report on Friday, May 2nd. Finally, Scotiabank lifted their target price on CubeSmart from $40.00 to $45.00 and gave the stock a “sector perform” rating in a research report on Monday, May 12th.

CubeSmart Price Performance

CUBE stock opened at $43.67 on Wednesday. The company has a quick ratio of 0.20, a current ratio of 0.20 and a debt-to-equity ratio of 1.02. CubeSmart has a 52-week low of $34.24 and a 52-week high of $55.14. The stock’s 50 day moving average is $40.62 and its two-hundred day moving average is $42.91. The company has a market capitalization of $9.96 billion, a PE ratio of 24.67, a P/E/G ratio of 11.58 and a beta of 1.00.

CubeSmart (NYSE:CUBE) last posted its quarterly earnings data on Thursday, May 1st. The real estate investment trust reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.02. CubeSmart had a return on equity of 14.33% and a net margin of 37.79%. The company had revenue of $273.04 million for the quarter, compared to the consensus estimate of $268.16 million. During the same period in the previous year, the business earned $0.64 EPS. CubeSmart’s revenue for the quarter was up 4.4% compared to the same quarter last year. Analysts predict that CubeSmart will post 2.64 earnings per share for the current fiscal year.

CubeSmart Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were given a dividend of $0.52 per share. The ex-dividend date was Tuesday, April 1st. This represents a $2.08 dividend on an annualized basis and a yield of 4.76%. CubeSmart’s dividend payout ratio is currently 123.08%.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. boosted its position in CubeSmart by 74.9% during the 4th quarter. Blue Trust Inc. now owns 675 shares of the real estate investment trust’s stock valued at $29,000 after purchasing an additional 289 shares during the period. Jones Financial Companies Lllp raised its stake in CubeSmart by 134.1% during the 4th quarter. Jones Financial Companies Lllp now owns 679 shares of the real estate investment trust’s stock valued at $29,000 after acquiring an additional 389 shares in the last quarter. SRS Capital Advisors Inc. raised its stake in CubeSmart by 310.6% during the 4th quarter. SRS Capital Advisors Inc. now owns 739 shares of the real estate investment trust’s stock valued at $32,000 after acquiring an additional 559 shares in the last quarter. Allworth Financial LP raised its stake in CubeSmart by 115.2% during the 1st quarter. Allworth Financial LP now owns 936 shares of the real estate investment trust’s stock valued at $37,000 after acquiring an additional 501 shares in the last quarter. Finally, UMB Bank n.a. raised its stake in CubeSmart by 59.4% during the 4th quarter. UMB Bank n.a. now owns 942 shares of the real estate investment trust’s stock valued at $40,000 after acquiring an additional 351 shares in the last quarter. Institutional investors and hedge funds own 97.61% of the company’s stock.

About CubeSmart

CubeSmart is a self-administered and self-managed real estate investment trust. The Company's self-storage properties are designed to offer affordable, easily accessible and, in most locations, climate-controlled storage space for residential and commercial customers. According to the 2023 Self-Storage Almanac, CubeSmart is one of the top three owners and operators of self-storage properties in the United States.